The Importance of Patent Registration and Trademark Protection Internationally

Today, it is not necessary to be a large company to enter our products in international markets. Globalization and technological advances allow small and medium enterprises, including micro-enterprises, unprecedented access to export markets.

Now, being in the markets of other countries means competing on the world stage. In a competitive market, a strong brand and the protection of the process of a product can become the most valuable commercial asset as it will contribute to increasing consumer loyalty and will allow higher prices to be demanded.

Therefore, the selection of intellectual property protection (IP) the mechanism is important; It is also necessary to determine the requirements to protect the product and how much it will cost to enforce that protection. A trademark or patent only means something in a market if its owner is prepared to defend it against infringements.

Intellectual property protection (IP) mechanisms are only effective if evidence of infraction is monitored. There are several types of infraction:

·        Literal Infringement: where each and every one of the elements of a patent claim is found in the product or process of the alleged infringement.

·   Doctrine of Equivalences: when the product or process of the alleged infringement is substantially the same as the patented product or process.

·         Tax Infringement: when a party contributes to the infringement of a patent by selling a component that has no other use except as part of a patented product. 

·         Induction to the infringement: were an active and informed person helps and incites another person who is directly infringing a patent.

The lack of vigilance for infringement of intellectual property can lead to the loss of the patent or the protection of the trademark, for example:

·         When a patent holder waits too long to file a complaint. 

·         When an alleged infringer, based on actions or communications of the patent holder (liabilities), reasonably believes that he can continue practising the patented production process.

The control of intellectual property infringement is also an important function in the prevention of counterfeiting. Counterfeit products can lead to losses of millions of dollars, depending on the product and how long it persists without being detected and acted upon.

It also has the potential to be dangerous for consumers. Industries such as the pharmaceutical industry invest significant resources to prevent counterfeiting, which has the potential for disastrous results. In addition, counterfeiting can undermine a company's reputation and brand image.

The protection of patents and trademarks at the international level

The World Intellectual Property Organization "WIPO" supports companies around the world, from large companies to small and micro enterprises, by providing Intellectual Property Services to help protect companies' investment in innovation, through its Madrid System. The WIPO Madrid System is an intelligent business solution for all companies that wish to license their products or otherwise market them in foreign markets.

In conclusion…

The lack of patent and trademark protection can cost companies millions of dollars in lost sales if they do not properly evaluate and value Intellectual Property.

In addition, you run the risk of losing millions of dollars in the investment of resources in research and development, acquisition of facilities and equipment, training and creation of corporate brands and images for unscrupulous competitors who do not share the burden of these initial product development activities, and take advantage of the lack of protection of Intellectual Property.

The protection of Intellectual Property is an important aspect of commercial activities that are an integral part of the position of a company and its products in the international market.

Credit : https://digi-passport.com